Thread regarding Chevron Corp. layoffs

It’s all about pumping up earnings in the near term

MW will make a big move here next time prices crash. I imagine he will make a run at Devon.

Wdym? We are already cooked

It’s funny you can tell by the comments who are in wells, facilities and operations VS management. Clearly two different views, one of reality and one of drinking the cool aid

Insiders are predicting production will peak a bit over 800k bopd.. Well short of the figures management are trumpeting to the press. More M&A will be needed to meet targets.

@tqe, oh so true. We played that same game in Indonesia, hurriedly installing more and more ESPs to hide serious per-well production declines. If you can just quantify those Permian production declines, you can accurately predict MW's retirement date. He will retire (with parties and accolades) before things are inescapably bad, and certainly before the sacred dividend is cut. He will hand off those problems to wunderkind EB.

My lateral length is fine and I can keep it UP

Our lateral lengths are up but IPs are down. Uh oh.

If Permian fails we are cooked.

I come to the layoffs boards to get the latest production and business development info going on at Chevron. I should get some popcorn and sit back, this is so good.

The permian wells are the top investment we have in CVX???? How???? We understand royalties advantage for owning minerals right in some areas. Do you know how econs of a well are built for S&T? Do you know how reserves are managed for S&T? That s where the sc-m resides. I have booked reserves for thousands and thousands of permian wells with Chevron and prior to Chevron and I am still amazed how we think that type curves and 20-30 years reserves booking are top investment. Trust me, we can make that DPI as high as management want it but reality is a different story.
Big capital goes to s&t because the s&t wells come fast into production and covers the sharp decline of the previous ones. Please enlighten us @hmz with your econs! More production???? It is a pity mentioning LaBu, Gom (really????) Oh big Anchor for sure. FGP, that deserves a thread by itself!

The prior poster should really understand econs of our S&T assets and econs of the business in general. Did we learn nothing in the 2010’s?! Growing production does NOT automatically equal profitability. The Permian well econs are often near the top investments we have as CVX. How do you think capital is allocated?! We are about to close on PDC Energy. More production. GOM wells coming online. More production. FGP next year. More production. LABU ramping. More production. Let’s worry about making sound investments - and less worried whether production is always up quarter to quarter.

We all feel that we entering the truthful painful decline phase. Permian wells are the biggest sc-m in the history of oil and gas. Initially, when we started the "factory model" cr-p, the wells had a good initial production but a sharp decline. Now, a miserable initial production with a steeper decline than before. We kept poking holes to make it look like the production is stable as we are expanding.
However, the saddest truth is this "lying fantasy" model cannot be sustained. Nor can it be solved by acquiring struggling companies.
Pleasing the satanic "shareholders" like Blackrock by offering them as much cash as possible at the expense of negative return investment wells and layoffs is dangerous and "stupid" clever.
These times may feel like glory to some chevroids due to the stocks and revenue but this model cannot be sustained and it would lead to huge consequences in the coming years.
Instead of focusing on pleasing these greedy ba----ds. Focus on your employees and how to build a culture of trust and honesty. How to build strong lasting economical assets with high returns.
Most Chevroids dont care anymore because they have lost trust in the current system.

We are starting the dreaded decline phase.